The grouping of the sector alongside betting and gambling firms in the tax regime opens up the prospect of the central bank denying it access to payment gateway services.
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After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.
With Fullerton acquiring a controlling stake last year, the fintech startup has seen an overhaul of the current leadership, trimmed loan disbursements and a halt in product rollouts.
The decade-old company is reportedly planning to venture into food delivery and fintech. Its no-commission model might just come in handy for its expansion plans.